Cyber fraud : Regional bank in Kannur has lost rupees 65 lakhs

The Thaliparambu Urban Cooperative Bank has lost Rs 64,41,781 from its current account at ICICI bank through cyber fraud. Police are of the primary assumption that the bank’s username and password were hacked to swindle the cash.

The bank officials said they successfully blocked the illegal withdrawal of Rs 50 lakhs However, the officials are still trying to find out how the hackers accessed the bank’s username and password.

The Taliparamba Urban Cooperative Bank here lost Rs 64,41,781 from its current account at ICICI bank through cyber fraud. Police are of the primary assumption that the bank’s username and password.

The Taliparamba Urban Cooperative Bank started an account in the ICICI bank to transfer cash through RTGS and NEFT. The hackers transferred cash from the Taliparamba bank’s account to 16 other accounts.

The cash was withdrawn to the 16 accounts through fake requests by hackers in the pretext of requests by Taliparamba bank. The ICICI bank officials noticed the repeated transfer of large amounts to different accounts and alerted the Taliparamba bank officials.

As the cooperative bank officials said they had not approved any such transaction, the ICICI officials blocked the transaction. The officials then contacted other banks and stopped the withdrawal of cash to their accounts from the Taliparamba bank’s account.